Standard Life European Private Equity Trust PLC

("SLEPET" or "The Company")

SLEPET is a 'fund of funds' product in the form of an investment trust. Through this structure, we add value with our specialist expertise and relationships with Europe's leading private equity managers. We continuously screen managers across Europe to find those that have robust strategies and the depth of experience required to produce consistently strong performance.

An investment in SLEPET can be made under a regular savings scheme and the Company is also available under an ISA wrapper.

General company information

Directors: All of the Directors are independent of Standard Life and are non-executive, with management of the company delegated to the Investment Manager.

Investment objective: To achieve long term capital gains through holding a diversified portfolio of private equity funds investing predominantly in Europe. The focus will be on those funds that invest in mid-market buyouts and expansion capital.

Investment policy: The Company will invest in a broad portfolio of funds which is diversified by country, industry sector, stage of development and size of investment. The Company will typically have holdings in 35 to 40 funds which invest principally in Europe. The Company also has the capacity to over-commit to its underlying fund investments to achieve a degree of gearing through the use of a revolving credit debt facility.

Investment outlook: The management team are confident that the medium term outlook for the European Economy and the prospects for growth in the private equity market will provide attractive opportunities for making and realising new and existing investments.